City of Amarillo Minutes Regular Meeting 2026-04-28
Amarillo OKs Incentive Deal For New Hampton Inn
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Description
The City of Amarillo approved a developer agreement with Rillo Investments, LLC for a $28 million, 122-room Hampton Inn near SE 10th and S. Buchanan. In return, the developer will receive a 10-year, 100% property tax rebate and a grant of up to $900,000 for eligible project costs.
Contract Details
Contract Amount
Not to exceed $900,000 grant plus 100% property tax rebate for 10 years
Vendor
RILLO INVESTMENTS LLC
Agency
city of Amarillo, TX
Contract Type
FINANCIAL_SERVICES
Document Date
April 28, 2026
Contract Term
10 years of 100% annual property tax rebate after project completion
Renewal Info
Agreement provides a 10-year 100% property tax rebate following project completion, along with a one-time grant not to exceed $900,000; no additional renewal terms noted.
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